At a time when small and midcaps are struggling to go up, SME stocks like drone-acharya just went up from listing price of 50 rs to 200 rs within the first week of its listing.
Even assuming that the prospects of the company are good, for a company with 3 crore FY 22 revenues, having a nearly 500 crore market cap is almost unheard of especially in SME markets.
If i may take other companies, SME stocks like PNGS Gargi fashion, Concord control system and even IT companies like veranium cloud have gone up anywhere between 200-500% within a very short span of time that too during the phase where major markets either had a down or a flat run.
Getting a feel that we are seeing a bubble in SME markets.